VICTORIA, Sept. 5, 2017 /CNW/ - Merchant House Capital Inc. announced today its acquisition of the historic Times Colonist Building, located at 2621 Douglas St., Victoria BC. Situated at the newly approved Humber Green Urban Village, the project provides for a total buildable density of 270,000 sq ft.
The project will see the restoration and reconfiguration of the iconic newspaper building into an urban campus-style mixed-use environment, featuring street level retail and 120,000 square feet of large floor-plate office. The building will be reconfigured to provide for the installation of an interior atrium bisecting the existing building, and the installation of a roof-top common space to include a restaurant/cafe feature.
The Print Reel Building is proposed to be an urban entertainment space with distillery/brewery manufacturing zoning. The project proposes the addition of up to 150,000 square feet of purpose-built rental which will be integrated into the existing Times Colonist Building to create a community-driven, work-live-play urban ecosystem.
"The Times Colonist Building represents such a unique cultural landmark for Victoria," says David Fullbrook, CEO of Merchant House Capital, "not only does the building embody the living history of Victoria and Vancouver Island, its preservation and reuse signals the emergence of the new Midtown urban village. We are excited to be a small part of the vibrant Victoria landscape."
ABOUT MERCHANT HOUSE CAPITAL
Merchant House Capital Inc is a private equity real estate investment firm with offices in Vancouver and Victoria BC. Focused on emerging trends in commercial real estate, Merchant House Capital seeks investment in transformative real estate where it can accelerate timelines and performance through the implementation of its value creation expertise.
SOURCE Merchant House Capital
For further information: on Merchant House Capital and their projects, visit www.merchanthousecapital.com